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Neverland Ranch, the former home of the late Michael Jackson, was sold to a billionaire for $ 22 million (NZ $ 30.9 million) after previously being listed in 2015 for $ 100 million ($ 140 million).
The ranch has been sold to Ron Burkle, according to the Wall street journal, who cited public records and several people familiar with the details of the deal in a report Thursday.
Burkle is a co-founder of the private investment firm Yucaipa Companies.
He also worked closely with Jackson in the years leading up to his death in 2009, and TMZ described him in a separate report as a “former business adviser” to the singer.
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Earlier this month, Michael Jackson’s estate scored a victory in connection with a legal battle over the 2019 documentary. Leaving Neverland.
The estate previously argued that the documentary was a violation of a non-disparagement clause from a 1992 concert film from decades ago, and HBO responded by arguing that the clause in question was not relevant to Leaving Neverland.
HBO also argued that the estate was trying to silence the alleged victims of sexual abuse.
By Variety, a three-judge panel upheld a lower court ruling that allowed the estate to take the dispute to arbitration.
